Developers present 129-room downtown hotel plan; legal deadline prompts council to seek options

Developers and the city laid out a concept for a new downtown hotel on the former Jafar Hotel site at Maine and Franklin and outlined next steps for design, parking and procurement.

Ingram Walters, the lead developer, told council he and partners are seeking an extension or amendment to the current economic-development agreement so the team can finish engineering and secure financing. "As soon as we get that signed, I'm hoping that that gets signed by the end of this week," Walters said, and he asked the city to let staff and the developer work toward a timeline he later said targets a ribbon-cutting on Dec. 31, 2028.

Architect Steven Overcash of ODA Architects presented conceptual drawings showing a five-story hotel with 129 keys, an underground parking facility with about 96 spaces, and a ballroom and meeting space the team said could seat about 300 people. Overcash said the design seeks to "tell the story of Monroe" and to keep the historic courthouse visible from the street.

Walters described the project's budget range to council as roughly $30 million to $40 million for the current plan after earlier estimates of $75 million to $80 million proved too large for Monroe's market. He said the team expects the architecture-and-engineering phase to take about six months if hotel-brand negotiations are delayed until after schematic design; he committed that the eventual brand will be one of two national chains. "I can commit to you tonight that it will be either Hilton or Marriott," Walters said.

Council members pressed the team on parking and urban fit. The developer and architect said the 96-space underground garage, combined with nearby municipal lots and a standard urban parking ratio the team cited as approximately 0.75 spaces per room, could be sufficient for the proposed 129 rooms, while the city's downtown master plan will include a parking evaluation. Walters warned the project will still need additional parking commitments for big events.

City Attorney Long told council an existing purchase-and-sale agreement and associated economic-development contract are in place and that the developer has a purchase option that can be exercised by Dec. 18. He advised council that walking away from the current agreement or attempting piecemeal amendments could trigger procurement and advertising requirements under the cited procurement threshold ("1.58-7.1") and could allow the developer to withdraw. The attorney recommended staff present options for either amending or replacing the agreement and return to council prior to Dec. 18.

Council did not take a binding vote on the hotel agreement at the meeting and asked staff to return with legal options and a proposed timetable. The council also suggested planning and the downtown committee provide design input as the team advances documents.